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Singapore stocks saw a mixed response as Goodwill (GEH) surged 16% to 0.174 SGD, while Koh Bros (K75) and Tuan Sing (T24) gained 3.65% and 3.64%, respectively. Kimly (1D0) dropped 3.03%, and Avarga (U09) fell 4.44%.
Singapore's stock market witnessed sharp volatility as CapAllianz dropped 50% to SGD 0.001, while Asian Micro surged 33.33% to SGD 0.004. Other stocks saw mixed responses.
Singapore's stock market displayed a mixed response, with DBS gaining 0.59% and OCBC rising 0.17%, while YZJ Shipbuilding dropped 0.66%. Banking stocks remained stable as investors assessed market trends.
Singapore's stock market saw a mixed response, with Ellipsiz (SGX: BIX) emerging as the top gainer, surging 13.29% to SGD 0.179. Other notable gainers include LMS Compliance, Fortress Minerals, and Hock Lian Seng.
Singapore’s stock market saw a positive trend as the Straits Times Index (STI) climbed 0.11% to 3,801.07. The iEdge S-REIT Index surged 1.01%, while broader indices also gained slightly.
However, despite this capital influx, Singapore’s stock market has lagged in performance compared to its burgeoning private markets. The EIU report highlights that while private wealth and investment have reached unprecedented levels, the Singapore stock market has struggled. It has shown relatively poor performance, characterized by low trading volumes and less transparent corporate disclosure practices.
CSE Global (SGX: 544), a systems integrator specializing in electrification, communications, and automation solutions, has also demonstrated financial robustness. Operating across 16 countries with 58 offices and over 2,000 employees, CSE Global reported a notable 22.8% increase in revenue for 1H 2024, reaching S$428.9 million. The company has consistently paid out S$0.0275 per share annually over the past five years, reflecting its commitment to returning value to shareholders.
The STI’s performance was marked by a strong advance in market sentiment, mirrored by gains across Asian markets. Japan's Nikkei 225 led the charge with a substantial 3.6% increase, while South Korea’s Kospi and Hong Kong’s Hang Seng rose by 2% and 1.9%, respectively. The Australian market also showed significant strength, climbing 1.3% to reach a two-week high, culminating in a 2.5% gain for the week. This surge came on the heels of positive developments on Wall Street, where favorable economic data helped to alleviate recession concerns that had previously weighed heavily on markets.